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Editorial
January 11, 1947
The Wilmington Morning Star
Wilmington, New Hanover County, North Carolina
What is this article about?
Editorial discusses President Truman's budget message aiming for fiscal balance through postal rate increases and excise tax extensions, yielding a $1.8 billion surplus. It urges Congress, especially the Republican majority, to avoid partisan reprisals and implement economies like reducing federal employment.
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The Budget Message
President Truman's budget message to Congress shows a noble intent to get the national finances into a more equitable and sound position. What the republican majority in the Capital will do to carry out his recommendations is not so clear. There appears to be a predisposition on the part of a large number in the House and the Senate to write its own slate on the more important legislative measures. If this is done it will include the budget.
It may be possible the majority will discover that improvements can be made in Mr. Truman's program, in which case the Congress will be justified in using its own judgment. On the other hand, it is to be hoped the more conservative element in the majority is successful in curbing the tendency among the hotter heads on the Hill to take punitive action against the administration for purely party reasons. The nation's financial situation is too grave to permit reprisals.
Mr. Truman notes that existing and proposed legislation will involve thirty-seven and a half billion dollars in expenditures, and that the present tax laws represent a national revenue of thirty-seven and seven-tenths billions.
To increase the margin in favor of the treasury, the President recommends an increase in postal rates, to take care of the post office deficit and the excise tax rates, due to expire on July 1 next, be continued throughout the 1948 fiscal year. Thus, says Mr. Truman, expenditures would be reduced to thirty-seven and one-tenth billions and revenues increased to thirty-eight and nine-tenths billions. The surplus would be one billion and eight-tenths.
Such a surplus is real money, in anybody's language, even with the national debt so staggeringly great. Unless the Congress can find ways to increase this amount without placing a handicap upon necessary governmental functions it will do well to accept both recommendations. At the same time, the Congress will be but doing its duty if it can create new economies in government, particularly by reducing federal employment with parallel cuts in federal payrolls.
President Truman's budget message to Congress shows a noble intent to get the national finances into a more equitable and sound position. What the republican majority in the Capital will do to carry out his recommendations is not so clear. There appears to be a predisposition on the part of a large number in the House and the Senate to write its own slate on the more important legislative measures. If this is done it will include the budget.
It may be possible the majority will discover that improvements can be made in Mr. Truman's program, in which case the Congress will be justified in using its own judgment. On the other hand, it is to be hoped the more conservative element in the majority is successful in curbing the tendency among the hotter heads on the Hill to take punitive action against the administration for purely party reasons. The nation's financial situation is too grave to permit reprisals.
Mr. Truman notes that existing and proposed legislation will involve thirty-seven and a half billion dollars in expenditures, and that the present tax laws represent a national revenue of thirty-seven and seven-tenths billions.
To increase the margin in favor of the treasury, the President recommends an increase in postal rates, to take care of the post office deficit and the excise tax rates, due to expire on July 1 next, be continued throughout the 1948 fiscal year. Thus, says Mr. Truman, expenditures would be reduced to thirty-seven and one-tenth billions and revenues increased to thirty-eight and nine-tenths billions. The surplus would be one billion and eight-tenths.
Such a surplus is real money, in anybody's language, even with the national debt so staggeringly great. Unless the Congress can find ways to increase this amount without placing a handicap upon necessary governmental functions it will do well to accept both recommendations. At the same time, the Congress will be but doing its duty if it can create new economies in government, particularly by reducing federal employment with parallel cuts in federal payrolls.
What sub-type of article is it?
Economic Policy
Taxation
Partisan Politics
What keywords are associated?
Budget Message
Truman Budget
Fiscal Policy
Tax Extensions
Postal Rates
Congressional Response
Partisan Politics
Federal Economies
What entities or persons were involved?
President Truman
Republican Majority
Congress
House
Senate
Editorial Details
Primary Topic
President Truman's Budget Message And Congressional Response
Stance / Tone
Supportive Of Truman's Fiscal Recommendations, Cautious Against Partisan Actions
Key Figures
President Truman
Republican Majority
Congress
House
Senate
Key Arguments
Truman's Budget Aims For Equitable National Finances
Republican Congress May Override Recommendations For Party Reasons
Nation's Finances Too Grave For Reprisals
Recommend Increasing Postal Rates And Extending Excise Taxes
This Would Create $1.8 Billion Surplus
Congress Should Seek Economies Like Reducing Federal Employment